Google Inc said on Tuesday it is acquiring satellite company Skybox Imaging for $500 million in cash, the Internet company's second high-profile acquisition of an aerospace company this year.Google said that Skybox's satellites will provide images for Google's online mapping service. Google, the world's No.1 Internet search engine, said that Skybox's technology could also eventually be used to provide Internet access and help with disaster relief.The acquisition of the five-year old company comes as Google and rival Facebook Inc are racing to snap up satellite and drone companies in an expensive effort to expand the reach of their businesses.In April Google acquired Titan Aerospace, a New Mexico-based maker of solar-powered drones, for an undisclosed sum. Google has also launched a small network of balloons designed to deliver Internet access over the Southern Hemisphere.
Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 4.23% or $2.66/share to $65.54. In the past year, the shares have traded as low as $23.26 and as high as $72.59. On average, 66138700 shares of FB exchange hands on a given day and today's volume is recorded at 60392096.
Google Inc. (Google), is a global technology company. Shares of GOOG fell by 0.37% or $-2.09/share to $560.03. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 2230350 shares of GOOG exchange hands on a given day and today's volume is recorded at 916031.
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